Interview with Mike Power, President and CEO of Silver Range Resources Ltd. (TSX-V: SNG): Precious Metals Project Generator
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By Dr. Allen Alper, PhD Economic Geology and Petrology, Columbia University, NYC, USA
on 6/12/2017
Silver Range Resources Ltd. (TSX-V: SNG) is a precious metals project generator, working in Nunavut, the Northwest Territories and Nevada. The company is actively seeking joint venture partners to explore the assets in its portfolio of over 30 internally-generated, high-grade, wholly-owned prospects. We learned from Mike Power, President and CEO of Silver Range Resources, the company is fully financed for 2017. Plans for the year include exploration work; geophysics, mapping, sampling, alteration mapping, geochemical surveys, and possibly some shallow drilling - on over a dozen of their prospects in Nevada and in Nunavut. Once some of these projects become drill-ready, the company's focus shifts to finding a buyer. According to Mr. Power, Silver Range is focused on the higher-grade end of the market, which they feel will command a premium in good times and in bad.
Silver Range Resources Ltd.
Dr. Allen Alper: This is Dr. Allen Alper, Editor-in-Chief of Metals News, interviewing Mike Power, President and CEO of Silver Range Resources, LTD. Could you give our readers/investors an overview of your company?
Mr. Mike Power: Silver Range is a gold and silver project generator. We work in Nevada and in Northern Canada, specifically Nunavut and the Northwest Territories. Our focus is on higher grade precious metal prospects.
Dr. Allen Alper: That sounds excellent! Could you tell us a bit about some of those projects?
Mr. Mike Power: In Northern Canada, we tend to focus on Archean lode gold and iron formation hosted gold targets. These have the potential to host deposits greater than five grams a ton.
We have over 13 projects in Nunavut and the Northwest Territories. One of which is currently under option to another party. Some of our projects consist of multiple claim blocks, such as the South Kitikmeot Gold Project, which covers all of the significant gold showings located between the Lupin Mine and Sabina's Back River project. We're working on this particular project as a package due to the geologic similarities of the known mineralization.
In Nevada, we have 13 projects. The majority are low sulfidation prospects, but the portfolio also includes carbonate hosted, intrusion related and orogenic gold targets. Many of our Nevada projects have evidence of historical production so there is a real opportunity to apply modern exploration techniques and discover additional mineralization, either along strike or at depth of the known high grade exposures.
Dr. Allen Alper: Excellent! Could you tell us a bit about yourself and your team?
Mr. Mike Power: I'm a geologist and a geophysicist. I've been in the exploration business over 30 years. The company is backed by the combined resources of Aurora Geosciences and Archer, Cathro and Associates, the two leading exploration consulting firms operating in Northern Canada. Aurora works in Nevada, as well.
Dr. Allen Alper: That sounds good. Could you tell us what your plans are for 2017 and going into '18?
Mr. Mike Power: We are fully financed for work in 2017. We plan on working on over a dozen of our projects, primarily in Nevada and Nunavut. We intend primarily to conduct grass roots exploration including geophysics, mapping, sampling, alteration mapping and geochemical surveys. We're also conducting shallow drilling on some projects in Nunavut, where our previous surface sampling has returned multiple assays over 30 g/t gold.
While working to move projects to the “drill-ready stage”, we also have a parallel focus to see some of these projects vended and placed in good hands. Increasingly, our corporate focus is shifting in that direction, as our portfolio reaches its optimum size. Currently, we have well over 30 projects and we aim to have between 40 and 50 at full strength. We are now switching our focus to finding partners to move some of these projects along more aggressively and so far we’ve had success in that regard, with three projects currently under option to other parties. As the exploration space and specifically our chosen jurisdictions continue heating up, we anticipate that our portfolio will garner much more attention.
Dr. Allen Alper: That sounds very good. Could you tell us a little bit about where your stock is listed and your capital structure?
Mr. Mike Power: Sure. We're listed on the Venture Exchange, the TSXV. Our current share structure is approximately 66 million shares outstanding, fully diluted.
Dr. Allen Alper: What is your market cap at the present time?
Mr. Mike Power: Market cap's at approximately 18 million Canadian right now.
Dr. Allen Alper: Sounds very good for a young company. It's good that you have the finances to move forward in 2017. What are the primary reasons our high-net-worth readers/investors should consider investing in Silver Range Resources Ltd.?
Mr. Mike Power: We’re a prospect generator focused on higher grade precious metal targets. The prospect generator model lets investors place asymmetric bets on exploration success. Higher grade deposits command premium prices in good times and bad. Combine the two and you have a real opportunity for significant returns on investment.
Another feature of our company is that we're able to draw on the combined expertise of two long established geological consulting firms that have experience in capital markets. Silver Range is a member of the Strategic Exploration Group, which includes ATAC Resources, Strategic Metals, Rockhaven Resources, and Arcus Development Group. These are very successful companies that have found significant mineral deposits. Management, collectively in the group, has demonstrated the ability to raise cash consistently in good times and in bad and generate positive returns for shareholders.
Dr. Allen Alper: That sounds very good. Is there anything else you'd like to add, Mike?
Mr. Mike Power: Thank you Dr. Alper for the opportunity to share our story with your readers/investors.
http://www.silverrangeresources.com/
Richard Drechsler
Vice-President, Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@silverrangeresources.com
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